LIMITED TIME 90% OFF QuickBooks for 3 months*

Buy now
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Work smarter and get more done with advanced tools that save you time. Discover QuickBooks Online Advanced.
terryjm31-gmail-
Level 1

Can a transaction still be matched to an invoice if the amount is different?

I have a check that was deposited to my account for $45,400 but before the teller put that in my business account (which is connected to quickbooks), she took 15,087.76 and put in a personal account and there is no record of this transaction in quickbooks, so the deposit amount says $30,312.24 which doesn't match the two invoices for $39,900 and $5,500. How do I match the transaction to the two invoices if the deposit is a different amount and how this affect reconciling at the end of the month?
4 Comments 4
Neisha Arceo
Level 1

Can a transaction still be matched to an invoice if the amount is different?

You'll need to create one transaction for your bank feed to match up to.

 

1) Create a record of the payment(s) received for the $45,400

2) Go to your New button and click bank deposit

3) Check off the payment(s)

4) At the bottom, you'll see 'add funds to this deposit.' Choose your account (i.e. "owner's pay and personal expenses") and put a negative -15087.76 for the amount

Rea_M
Moderator

Can a transaction still be matched to an invoice if the amount is different?

Hello there. Welcome to the Community.

 

I agree with @Neisha Arceo's resolution above. You'll have to create a Bank deposit transaction (after recording payments), so you can match it with your bank feed. Let me further guide you about this to keep your financial data accurate in QuickBooks Online (QBO).

 

After recording a bank deposit, you're now ready to match it to your downloaded transaction in the Banking menu. To do this, here's how:

 

  1. Go to Bookkeeping, then Transactions, and select Bank transactions, or go to Banking.
  2. Choose the tile for the account you want to review.
  3. Select the For review tab to start your review.
  4. Find a downloaded transaction with the Match option in the Action column. 
  5. Note the DateDescriptionPayee, and amount spent or received. Then, select the downloaded transaction to expand the view.
  6. Review the Matching records found in QuickBooks. 
  7. Select the link next to each match to get more details.
  8. Make sure this is the correct match. In particular, review the Deposit toPayment method, and Bank account fields on forms for the existing transaction in QuickBooks.
  9. Close the open transaction if the transaction is a match, and select Match.

 

For the complete guide in categorizing downloaded transactions in QBO, you can refer to this article: Categorize and match online bank transactions in QuickBooks Online.

 

Once you're done, you should be good to go in reconciling your account in QBO.

 

Also, I encourage you to reconcile your accounts in QBO regularly (every month). This helps monitor your income and expenses and detects possible errors accordingly. You may want to check out this article as your reference to guide you in doing and fixing a reconciliation: Learn the reconcile workflow in QuickBooks.

 

Let me know if you have other banking concerns or questions about managing transactions in QBO. I'm always ready to help. Take care, and I wish you continued success.

terryjm31-gmail-
Level 1

Can a transaction still be matched to an invoice if the amount is different?

Thank you both for the help! I did receive payment for both invoices and added a bank deposit for -15087.76 but when I go to match the transactions under Bookkeeping > Transactions > Find Match it only shows one of the invoices I marked as payment received (the one for $5,500). I am missing the other invoice for $39,900 in this view. Any ideas as to why this isn't showing?

Thanks! :)

terryjm31-gmail-
Level 1

Can a transaction still be matched to an invoice if the amount is different?

I figured it out, thank you both again!

Need QuickBooks guidance?
Log in to access expert advice and community support instantly.

Need to get in touch?

Contact us